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Contract manufacturer designing and producing precision components for medical devices like ventilators and auto-injectors.
Contract manufacturer designing and producing precision components for medical devices like ventilators and auto-injectors.
Works as an outsourced design-and-manufacturing partner for device makers, paid per unit shipped once a customer has approved the part. Revenue depends on a limited number of large customers' programmes, and moulding and assembly skill is what it sells.
In one line: A Chinese medical-device CDMO, like a smaller Flex Health Solutions.
Moat: narrow (process know-how, customer qualification). Design-to-manufacturing qualification with device OEMs is costly to switch mid-program.
Headquarters: Shenzhen, China · Founded: 2010 · Employees: 3,101
Size Mehow Innovative (301363.SZ) is a China Health Care company (Medical Specialties) with a market value of $1.95B, the 1295th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥16.38 on 6 Nov 2026.
Performance Over six months the shares fell 14.3%, against -4.2% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 9.9% over the last twelve months (peer median +14.6%); the operating margin is 20.7% (peer median 10.9%).
Valuation It trades at 38.8× forward earnings against a peer median of 26.9× (9th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.4 points above its cost of capital (8.9% WACC).
Next results Next results expected around 22 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.79B | CN¥1.61B | CN¥1.58B | CN¥1.33B | CN¥1.41B |
| Revenue growth | — | +2% | +19% | -5% | — |
| Gross profit | CN¥797M | CN¥606M | CN¥631M | CN¥518M | CN¥580M |
| EBITDA | n/a | CN¥397M | CN¥441M | CN¥361M | CN¥469M |
| Net income | CN¥309M | CN¥283M | CN¥364M | CN¥313M | CN¥402M |
| Free cash flow | CN¥169M | -CN¥103M | CN¥95.2M | CN¥107M | CN¥180M |
| Capital expenditure | CN¥234M | CN¥462M | CN¥363M | CN¥259M | CN¥201M |
| Total debt | CN¥118M | CN¥111M | CN¥19.0M | CN¥45.2M | CN¥32.1M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Mehow Innovative 301363.SZ | $1.95B | -14% | +10% | 21% | 38.8× | 18.9% |
| Flex FLEX | $25.8B | -51% | +18% | 6% | 11.2× | 15.9% |
| Jabil JBL | $24.6B | -33% | +21% | 5% | 13.5× | 8.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 301363.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.5% | -0.5% | 7th highest of 21 |
| 6-month return | -14.3% | -4.2% | 4th lowest of 21 |
| Distance from 52-week high | -47.0% | -28.8% | 4th lowest of 21 |
| Revenue growth (TTM) | +9.9% | +14.6% | 9th lowest of 21 |
| Operating margin | 20.7% | 10.9% | 4th highest of 21 |
| Forward P/E | 38.8× | 26.9× | 9th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 18.9% | 11.4% | 3rd most demanding of 15 |
| Growth delivered (Del g) | +12.9% | +10.9% | 7th highest of 15 |
| Hurdle (Req g minus delivered) | +6.0 pp | -9.1 pp | 3rd most demanding of 15 |
| ROIC minus cost of capital | +6.4 pp | -1.3 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mehow Innovative 301363.SZ | China | $1.95B | -14% | +10% | 21% | 38.8× | 18.9% | +12.9% |
| Veracyte VCYT | United States | $1.94B | -40% | +17% | 17% | 14.9× | 15.1% | +34.5% |
| Shandong Weigao Group Medical Polymer 1066.HK | Hong Kong | $1.96B | -4% | +7% | 14% | 8.8× | -11.8% | +2.1% |
| JEOL 6951.T | Japan | $1.98B | -3% | -18% | 11% | 14.2× | 21.3% | +10.2% |
| SKAN SKAN.SW | Switzerland | $1.92B | +49% | +9% | 11% | 49.8× | 13.8% | +11.7% |
| Establishment Labs ESTA | United States | $2.00B | -7% | +38% | -7% | n/a | n/a | n/a |
| Draegerwerk AG & Co. KGaA DRW8.DE | Germany | $1.89B | +17% | +5% | 7% | 9.4× | -12.6% | +0.4% |
| DENTSPLY SIRONA XRAY | United States | $1.89B | -14% | -1% | 5% | 7.3× | 10.2% | +1.9% |
| Inspire Medical Systems INSP | United States | $1.85B | +45% | 0% | 2% | 45.4× | 30.9% | +51.2% |
| LeMaitre Vascular LMAT | United States | $1.85B | -25% | +12% | 29% | 26.2× | 2.9% | +14.0% |
| Inner Mongolia Furui Medical Science 300049.SZ | China | $1.85B | -5% | +11% | 25% | 53.2× | 6.6% | +14.6% |
| Medartis MED.SW | Switzerland | $1.83B | +47% | +30% | 2% | 74.2× | n/a | n/a |
| Wuxi Unicomp Technology 688531.SS | China | $1.80B | -36% | +53% | 12% | 40.7× | n/a | n/a |
| Bonesupport BONEX.ST | Sweden | $2.16B | +34% | +25% | 25% | 61.9× | 13.3% | +45.4% |
| Fukuda Denshi 6960.T | Japan | $1.75B | -5% | 0% | 19% | 14.6× | -3.2% | -1.0% |
| Embla Medical hf EMBLA.CO | Denmark | $1.75B | +3% | +6% | 14% | 17.9× | -1.8% | +8.3% |
| Angelalign Technology 6699.HK | Hong Kong | $1.74B | -7% | +84% | 9% | 52.1× | 18.1% | +25.8% |
| Poly Medicure POLYMED.NS | India | $1.73B | -4% | +18% | 17% | 40.6× | n/a | n/a |
| Kestra Medical Technologies KMTS | United States | $1.72B | +37% | +61% | -134% | n/a | n/a | n/a |
| Cofoe Medical Technology 301087.SZ | China | $1.71B | -5% | +33% | 10% | 26.9× | 12.5% | +7.4% |
| Butterfly Network BFLY | United States | $1.70B | +53% | +39% | -36% | n/a | n/a | n/a |